Money Talk

What is financial wellbeing?

Money Talk

Financial wellbeing might seem like another buzzword in the world of personal finance, but it’s more than just jargon, especially during a cost of living crisis. It’s about achieving a healthy relationship with your money, feeling secure and being prepared for both the short and long term.

So, what is financial wellbeing? At its core, it means having control over your day-to-day finances, feeling secure about your financial future, and being free from money worries. It’s not just about having a bulging bank account or a hefty pension pot. It’s about feeling confident and in control, no matter what life throws at you.

Financial security

Financial security is a key part of financial wellness. It’s about knowing you have enough money to cover your needs, whether that’s paying the bills, dealing with unexpected expenses, or saving for the future. When you feel financially secure, you can focus on other areas of your life without constantly worrying about money.

At RiseUp, we believe understanding your financial situation is an important step towards feeling financially secure. Our app helps you combine your household accounts, income and expenses into one secure space, giving you a clear view of your financial health. With monthly forecasts and personalised recommendations, you can take control of your money and feel more secure about your finances.

Financial health at work

For businesses, employee financial health is more than just a nice-to-have; it’s essential. Financial worries can have a negative impact on employee productivity and overall wellbeing at work. When employees are stressed about money, it affects their physical and mental health, leading to lower engagement and higher absenteeism.

Supporting employees’ financial health can lead to happier, healthier and more productive teams. At RiseUp, we offer personalised guidance, practical tips and a supportive community. By focusing on employee benefits that address financial fitness, companies can create a positive and productive work environment.

Planning for the future

Thinking about the future can be daunting, especially when it comes to your money. But having a clear plan can make all the difference. Financial wellbeing involves both short term and long term planning, ensuring you’re prepared for life’s big moments and everyday expenses.

RiseUp provides tools to help you plan ahead. From daily transactions to long-term savings goals, our app offers insights and recommendations to keep you on track. Whether it’s planning for a holiday, a new home, or retirement, having a financial plan gives you peace of mind and a sense of control.

Tackling debt and money anxiety

Debt is a reality for many, but it doesn’t have to be a source of constant stress. Understanding and managing your debt is crucial for your financial wellbeing. The Money and Pensions Service offers debt advice and strategies to help you tackle high-interest debt, manage repayments and ultimately reduce your financial burden.

Money anxiety can affect every aspect of your life, from your physical and mental health to your relationships and work performance. By addressing these worries head-on and creating a plan to manage your money, you can reduce stress and improve your overall wellbeing.

Building a financial strategy

Put some financial strategies in place to support your wellbeing that are holistic and unique to your situation. A good approach considers all aspects of your financial life, from daily expenses to long-term goals. At RiseUp, we offer a range of features designed to support your wellbeing journey:

  • Personalised guidance: Receive tailored recommendations and tips based on your unique financial situation.
  • Community support: Engage with a supportive community, share advice and participate in group challenges for financial wellbeing support.
  • Daily rituals: Spend just two minutes a day reviewing your finances and taking actionable steps to improve your financial health.
  • Monthly forecasts: Get a clear picture of your financial outlook with our unique monthly forecasts.

So, what is financial wellbeing? It’s about more than just money. It’s about feeling confident and in control, being prepared for the future and living without the constant stress of financial worries. Whether you’re looking to improve your financial situation, support employee wellbeing concerning finances, or simply gain a better understanding of your money, RiseUp can help you enjoy a more secure and confident future.

Start your free trial with RiseUp today and take control of your financial future.

Share article:

Recent posts:

At RiseUp, we’re all about making it easier (and even enjoyable!) for you to manage your money and achieve...

Top 8 financial wellbeing tips Want to feel happier and more confident about money? Here are our top financial wellbeing tips to boost how you feel about your finances.

Given the ongoing cost of living crisis, many people living in the UK are grappling with money worries...

Where to turn for financial wellbeing support Many of us are under financial stress, which can affect our health and wellbeing. Here are some sources of financial wellbeing support.

Many of us have become increasingly interested in financial wellbeing in recent years. With the increasing...

The state of financial wellbeing in the UK It's a tough time financially in the UK and our interest in financial wellbeing is increasing. So, what is it and how can we improve it?

Ever find yourself scratching your head over financial decisions? We’ve all been there. Making informed...

Tips on how to become better at financial decision making Making choices about money is confusing. Here are RiseUp’s top tips to improve your financial decision making.

Financial wellbeing is a phrase that’s popping up more and more these days. But what does it actually...

Defining financial wellbeing in 5 simple steps Discover what financial wellbeing actually means and how you can change the way you handle your finances.

Financial resilience isn’t just a buzzword – it’s your secret weapon against life’s unexpected curveballs,...

How to be more financially resilient Build financial resilience with practical strategies and RiseUp insights. Secure your financial future and reduce stress. Start today!

If you’re a millennial or a member of Gen Z, it’s likely you grew up without spending much time talking...

The RiseUp way to confident cashflow management Whatever your money goals, these four cashflow management tips can guide you to a more relaxed and controlled financial life.

Picture the scene. A friend wants to grab dinner with you the night before pay day. An invite to a hen...

What is "loud budgeting"? The new trend that will save you money & boost financial wellbeing If you’re tired of making up fake excuses to stick to save money, “loud budgeting” will help improve your financial wellbeing.

Have you ever felt worried about not saving as much as you wanted or stressed about dipping into your...

How to manage money anxiety: tips from a financial psychotherapist Money stress and anxiety affects most of us. A financial therapist shares advice to boost your financial wellbeing and mental health.

Talking about money with family and friends can be daunting. I certainly don’t feel comfortable discussing...

How to talk about money with family & friends: financial therapist-approved advice Talking about money with loved ones is hard. Follow this expert advice for a smoother experience.